Everyone needs a diversion. We’ve updated our Foundry Group web site with the new Liquidation Preference beer photo . Yes – we make beer – or at least my partner Ryan McIntyre and our long time friend Matt Galligan does. If you miss our old web site pictures, you can now get to them via the diversion tab on the top right. Seth as Frankenstein, Jason as Don Draper, or Ryan at Mr. Pink (or was he Mr. Blonde?) – how could that not make you smile. ...
At the HBS VC Alumni event I was at last week (no – I didn’t go to HBS – I was a panelist) I heard a great line from a wise old VC who has been a VC about as long as I’ve existed on this planet. “VCs only need three rights: Up, Down, and Know What The Fuck Is Going On” If you’ve read Venture Deals: How To Be Smarter Than Your Lawyer and Venture Capitalist , you already know that Jason and I agree with this statement. And even though a term sheet might be four to eight pages long and the definitive documents might be 100 pages or more, other than economics, there are really only three things a VC needs in a deal. ...